How to Stake ADA

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How to stake ADA with your own Cardano wallet

First, let’s talk about WHY you should delegate your ADA to a stake pool. Well, that’s actually simple: you get MORE ADA (referred to as interest, Return on ADA, or Return on Investment). Simply put, if you don’t delegate, you won’t earn the roughly 4.7% – 5.0% APY on your ADA.

One other reason to move ADA from the exchange where you purchased your ADA at is for security. Unless you have the coins in YOUR wallet, you simply have an IOU from the exchange stating that they owe you ADA in the amount your purchased. If the exchange has a security breach, your ADA could get stolen (and exchanges HAVE been compromised and millions of dollars’ worth of cryptocurrency have been stolen).

While a number of exchanges will offer you a great introductory interest rate, they invariably reduce that after a short period of time, and only pass you some of the annual interest. This is an income stream for them. Delegating your ADA from YOUR wallet insures that YOU get ALL the interest and insurance than any breach of the exchange will not impact your investment.

This tutorial will step you through the ADA staking process from A to Z. Delegating to our AzureADA stake pools will give you maximum Cardano ADA rewards. With over 6,600 wallets staked with our pools, totaling over 70 million ADA, feel assured of our professionalism toward your investment. 

 

If you never bought crypto before, please follow the guide from step 1

 

If you are already familiar with crypto, but have never staked Cardano before, you can jump straight to step 2

 

If you already own Cardano ADA & are looking to secure your coins in your own wallet, please follow to guide from step 2

 

Please note, your ADA coins never ever leave your wallet. Staking ADA does NOT require any transfer of ADA to our pools. You stay in total control of your investment and can stop staking anytime you want. You are simply giving a stake pool the right to claim the amount of ADA you have as “stake” to win blocks to mint with.

1

How to buy Cardano ADA Crypto Coins ?

To buy Cardano ADA, you will need to sign up with a crypto exchange. However, not every exchange offers ADA, and eligibility to sign up will vary by country and even state. Below is a list of exchanges featuring Cardano ADA.

Signing up on an exchange is a very straightforward process, similar to creating accounts on other web based financial transfer institutions like PayPal or Venmo.

After your banking details and identity are verified by the exchange and you have deposited money into your exchange account, you will be ready to purchase your ADA. You would then look for the crypto pair (ADA/USD, ADA/EUR or any fiat (regular) currency available in your country and follow the prompts to purchase the amount of ADA you wish. Any amount left in your exchange account will remain there until you decide to purchase more crypto or withdraw back to your personal bank. Certain Exchanges such as Binance.us won’t allow you to transfer your ADA immediately if you used a Debit or Credit Card to place your order. This is a protection against chargeback or fraud. On the other hand, if you transferred your funds through a wire transfer, then you will be authorized to withdraw your coins immediately. Here is a list of common Crypto Exchanges where you can buy Cardano ADA coins:

 

Coinbase PRO

(Good choose if you live in the US)

Binance.us

(Reserved for US Residents)

Binance.com

(Not allowed to US Residents)

But also : Kucoin, KrakenHuobiHBTC

 

We will use Binance.us to demonstrate the process. Every exchange works in a similar matter, although interfaces or terminology will differ slightly.

2

How to Create a Cardano Wallet to store your coins ?

We will cover the 2 official wallets supporting ADA Staking : Daedalus and Yoroi. We will help you to choose the right one for you, both have different features listed below.

Daedalus Wallet

Daedalus Wallet

Daedalus is a software wallet you install onto your computer. It is compatible with Windows, Mac, and Linux. Daedalus needs to download the entire blockchain to operate. This process can take a number of hours, depending on your internet connection speed, as about 7 GB has to be downloaded to your machine. Each time you load it, it will have to download the history since it was last run. Daedalus is completely independent and is the preferred wallet for large volume investors and IT professionals due to its extensive security.  In other words, it’s a completely self-contained juggernaut that most serious investors use.

OR

Yoroi Wallet

yoroi wallet

Yoroi is a lightweight, lean wallet that runs as a Google Chrome Extension, Edge Extension, FireFox Extension and most recently, Android and iOS apps. It is compatible with Windows, Mac, Linux, Android, iPhone and iPad. The installation is very fast and does not require download of the blockchain. It does depend on third party servers to do the “heavy lifting” of maintaining a copy of the blockchain. There can be delays of several hours at the epoch transitions, so rewards may not be immediately evident until the backend servers catch up. In other words, it’s zippy and nimble, as 3rd parties are doing the heavy lifting.

NOTE: Each wallet program will warn you to PROTECT YOUR WALLET KEY PHRASES very carefully and we reiterate that. These are the keys to your ADA, so it should be protected very carefully, to avoid theft. Hardware wallets are also an option to store the keys on a device which requires a long PIN to be entered into a physical wallet device in order to access it. Regardless of the method used, you should have duplicate copies of your keys stored in multiple locations in case of a fire or other disaster, you will have a backup copy. If you lose these keys, your ADA is forever unreachable. If anyone intercepts these keys, they can steal your ADA, so BE CAREFUL.

3

How to Transfer Cardano ADA to Wallet ?

Transferring your ADA to your own wallet is quick and requires only a few steps. Every investor should exercise caution during this step of the process – Pay careful attention to your receive address. We encourage you to double check the copy-paste to ensure it is exactly the same. If you misspell the address and submit the transactions, your funds will be permanently lost. It is advised to first do a very small deposit (~10 ADA) to insure that the transfer completes successfully, and then do a second transfer to move the remainder. 

To transfer to your wallet, you will need to locate 2 things : 

– The withdrawal page on the exchange for your owned ADAs 

– The Deposit/Receiving Address within your wallet. The screenshot below shows Yoroi, but Daedalus also has a Receive tab with the address. 

In your wallet, click the button to copy the Address :

How to Stake ADA

On the exchange withdrawal page, set the amount of ADA you wish to transfer to your wallet. Copy/Paste your 'wallet address' in the field 'Send To/Recipient' :

Transfer ADA to Wallet

Follow the on screen confirmation. You are all set! Congratulations! You will receive the first reward after a period of 15/20 days. After that period, the rewards will come every 5 days as long as your ADA coins are delegated! Welcome into Staking ADA!

4

How to Choose a Cardano Pool to delegate to ?

Within your Yoroi Wallet, You will see a tab ‘Delegation List’, click on it. Inside the ‘Delegation List’, you will see a search box, type in ‘Azure’ and click the green button on the right side. You should now see our pools listed below, choose one and click on the ‘DELEGATE’ button on the right side.

Choose a pool to delegate your Cardano ADA

Follow the on screen confirmation. You are all set! Congratulation!
You will receive the first reward after a period of 15/20 days.
After that period, the rewards will come every 5 days as long as your coins are with us!
Welcome into Staking ADA!

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